In this article, let’s go through five fantastic tips to starting a small business, no matter the industry or location.
Follow Other Successful Small Business People
Put real simple – do what other successful business people do. Network – communicate – start conversations – Don’t copy without permission or giving the right credit (Bad Karma) – It’s all Ice Cream put YOU and yourself into whatever you undertake and make it your own flavor
Taking guidance and suggestions from successful small business owners and entrepreneurs will be critically important when you are starting small business ventures. Knowledgeable and experienced businesspeople who have already launched and run a small business can assist new entrepreneurs starting small businesses. They are so often very willing to “give back” and share what they have learned from their mistakes, and they can pass this invaluable knowledge on to you.
Frequently, small business coaches have created “business systems” that will increase the probability for new small business owners to achieve extraordinary results when starting their own small businesses. Many of these small business systems can be deployed in a new small business simply by following 1-2-3 instructions.
Take advantage of these powerful resources, whether they are free or require payment it will save you valuable and expensive time and mistakes.
Start With The Right Small Business Ideas
When making a decision about starting a small business you will need to select and develop the right business idea. While this may seem like an obvious prerequisite, the majority of people who dream of starting their own business don’t have a clue for a small business idea. And everyone says yeah If Only I had the right idea…
We now have the most incredible resource in mankind’s history at our fingertips 24/7. Use It – The internet will give you access to every conceivable idea as well as the means to do extensive due diligence on it! See our article on why people start a small business They only possess the desire to become their own boss (check our post on this topic) and get started on the road to being a successful small business owner.
Once you have made a preliminary decision on what small business to start then the real work begins
Allocate Your Resources Properly
We have a formula for allocating your resources that applies in most every small business. The categories always must be in place – the percentages will change. We recommend even in the phase of starting a small business – you must allocate on the order of 1/3 – 1/3 – 1/3.
Work ON Your Business – This is what most unsuccessful people forget to do – make your business better. Make it a passion to follow the Japanese concept of Kaizen – constant improvement. Seek perfection is your goal – not necessarily to have it and possess it – the drive for it keeps us all going.
Work IN your Business – Most everyone gets this – Make sure you spend more than 4 hours a week at it. Starting a small business requires significant resources – time or money – your choice which – Not your choice of whether to invest them or not.
Work On Yourself and Your People – Put You and your people first and you will come in first in the race. Whether you are a “solopreneur” or have 500 employees – you and your people are your most valuable resource. Take care of them, nurture them, educate them and develop them – They will lead you to success and prosperity
Execute Your Plan
Make your plan, use someone else’s plan to edit and modify it for what you do. Then put every ounce of energy you have into executing the plan. Follow through on every step – no shortcuts and don’t fall victim to the flavor/focus of the moment disease. Continue to grow your business, no matter how large it gets. It is a microcosm of step 3:
A. Work on your plan and develop/create it
B. Work your plan and complete the steps
C. Look for the real time adjustments necessary to make your plan more effective and leverage the best results from it.
Persist Until You Succeed
Been hearing the statement this month “sometimes you have nightmares before you realise your dream…” People have been using it to ease Lebron James’ (of the Cleveland Cavaliers) frustrations of not continuing in the NBA playoffs to win a title.
Seth Godin says it all in his book “The Dip”. Push through the dips in your business performance – when it seems darkest – right when most people quit is when you must give it all the juice you have.
Any worthy or worthwhile goal deserves all the energy you have and persists in giving until it gives back.
There you have it – write them down – refer to them – ensure you follow them – Your journey to success will be filled with success.
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